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Red Link to Apply for ISP License

Yangon – Red Link Company, which is providing internet service in Myanmar on the WiMax system, will apply for an internet service provider license in order to upgrade its services. “We have started with the application process. As soon as we obtain the license, we plan to provide better services to...

ADB’s Donor Countries Agreed to Provide US$ 150-200 Million to Aid Myanmar’s Development

Yangon – According to Asia Development Bank (ADB), donor countries have agreed to provide US$ 150-200 million of aid within four years for the development programs in Myanmar. From 2013 to 2016, ADB will spend the aid on human resources development, economic development, and infrastructure overhaul...

To Help Investors Avoid Sky-high Land Price, Myanmar Government Plans to Build Factories for Rent

Yangon – In order to help both foreign and local investors avoid steep land prices in industrial zones, the Ministry of Industry is planning to build factories for rent. According to Deputy Minister of Ministry U Thein Aung, due to prohibitive land prices in industrial zones, his ministry is...

U.S.-based Hilton Opens Hotel in Nay Pyi Taw

Yangon – U.S.-based hotel chain, Hilton has opened its Hilton Nay Pyi Taw, which has over 200 rooms, in Nay Pyi Taw on October 17 th . The hotel is owned together by Eden Group and Hilton World Wide Company. “Let me be frank. I would never imagine any international hotel coming to Nay Pyi Taw. But...

Toyota the Most Popular Car Brand in Myanmar, According to Survey

Yangon – According to a survey by Motors.com.mm, Toyota has the most popularity and the biggest market share in Myanmar’s automobile market. Toyota tops the survey with 53 percent of market share, followed by Honda with 11 percent and Nissan with 8 percent respectively. Myanmar’s car owners favor...

Myanmar Investment Commission Authorized 13 Investments in October

Yangon – Myanmar Investment Commission (MIC) has authorized 13 local and foreign investments in October. Among the permitted businesses are a resort on B.O.T system; a road pebble business; an international standard hotel; a 50-bedded private hospital; cinema; a logistics services business; and a...

Japanese Businesses Invest Most in Construction and Services Sector in Myanmar

Yangon – According to JETRO, Japanese businesses invest most in the services sector and the constructions sector in Myanmar. Although some are interested in the banking and transportation sector, the numbers are low compared with other investments. While trading sector has drawn considerable...

In Current Real Estate Market, Buyers Must Be Careful with Pre-Sale Units, Warn Market Experts

Yangon – The construction sector in Yangon has reached its peak, and those who invest in real estate through pre-sale apartments need to be careful with the market, say real estate professionals. With investors from all other sectors racing into the construction industry, apartment projects have...

Kanbawza Won Three Awards from World Finance

Yangon – London-based World Finance has awarded three banking prizes for year 2014 to Kanbawza Bank. According to the announcement from World Finance, Kanbawza Bank won “Best Banking Group in Myanmar 2014” and “Best Commercial Bank in Myanmar 2014,” and the Bank’s chairman U Aung Ko Win won “Banker...

Pyi Htaung Su Hluttaw Approved the New Electricity Law

Nay Pyi Taw – On October 3 rd , Pyi Htaung Su Hluttaw has approved the new Electricity Law that allows private sector to operate and re-negotiation of existing contracts with power companies already operating. “In re-negotiating existing contracts, we want to include the clause that allows power...

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